We an Indian Company have awarded a contract to an Indian Resident company for a project outside India. We have deducted Tax at source from the bills of the Indian company as per the extant rules of the foreign country. However, we are making the net payment against the bill in INR to the Indian resident company from India to their Indian account.

Are we liable to deduct IT TDS again from such remittance as per the rules of Income Tax of India?

Sir,

Proprieties have 3 Term Loan and 2 CC Loan account Interest from All Loan account FY 2023-24 is Rs.991000/- Where 661000/- Interest as Term loan. Proprietor have taken term loan from shop and home proprietor but he used Loan amount for Business purpose. In FY 2023-24 Net profit is around Rs.43500/- according to owner we should show NP around Rs.600000/- So can we Charge Term Loan Interest Rs.661000/- to owner,s Capital account and Rs. 330000/- CC Interest to PNL Account
Please advise Sir,

how to solve
T_FV_6351 error in th latest 2023-24 Q4 error RPU file

Other special allowance 10(14) error in TDS return-error code 6351
can somebody plz help

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For the first time we find that From 16C generated under TRACES is much lower that the Rent paid/Payable and Tax deposited as per Form 26QC.

Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!

Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.

Dear Sir,
Director of the company providing guest house to the company and the guest house is used for the purpose of business. The guest house rent allowed or not in case of the company. If yes, under which section. The rental income in the hands of director taxable under which head. Please explain.
Thanks in Advance.

Wrong TAN mentioned in Challan 281, 20 days happened. how to claim refund. PLEASE REPLY

The resolution plan of SREI infra NCD default, for its holders provides two components of payment. One part distributed as cash payment directly and the balance in the form of Security receipts (SR) and Estimated Optionally Convertible Deposits (OCD). These SRs and OCDs are held by Punjab National Bank and will be released after 8 years with condition that if funds available then! Please therefore inform how the capital loss of debt is booked for relevant assessment year. Is it only cash paid now as value of return; and SR+OCD if any paid after 8 years to be taken as income for future earnings?

We had filed rectification request with revised return data of AY 22-23 in Mar,24. CPC has issued rectification order u/s 154 nullyfying demands raised in intimation u/s 143(1). However, they have computed interest u/s 234A from Date ff filing of return (Nov,22) to date of filing of correcttion i.e. Mar,24. Please let us know the applicability of interest u/s 234A in this case.